Category Archives: Politics

NJ’s concerted effort to freeze the foreclosure pipeline continues

Posted on March 17, 2014 by grim

From the Star Ledger: Bill to help NJ families avoid foreclosures advances Legislation that would create a fund to help low and moderate income families afford foreclosure prevention services was passed out of committee Thursday and can now be voted … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics | 72 Comments

Bye bye Freddie and Fannie?

Posted on March 12, 2014 by grim

From Bloomberg: U.S. Wind-Down Bill Clips Fannie Mae, Freddie Mac Shares Leaders of the U.S. Senate Banking Committee announced long-awaited plans to dismantle Fannie Mae and Freddie Mac, pushing the companies’ common shares to their biggest intraday drop in 10 … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, Politics | 156 Comments

Out of sight, out of mind

Posted on March 3, 2014 by grim

From the Star Ledger: Chris Christie signs order to speed razing of Sandy-damaged homes Calling Hurricane Sandy-damaged homes that have not yet been torn down an “ongoing emergency,” Gov. Chris Christie signed an executive order aimed at speeding up the … Continue reading →

Posted in New Jersey Real Estate, Politics | 63 Comments

Geography Lesson

Posted on March 1, 2014 by grim

Can’t seem to find NJ anymore, can someone help? (click to enlarge)

Posted in Economics, Foreclosures, New Jersey Real Estate, Politics | 68 Comments

Budget showdown begins

Posted on February 24, 2014 by grim

From the Star Ledger: Christie’s new budget could have drastic effect on NJ residents Once Gov. Chris Christie unveils his new budget plan for New Jersey in a Statehouse speech tomorrow, two big issues that have dominated Trenton will likely … Continue reading →

Posted in Economics, Politics, Property Taxes | 91 Comments

HARP 3 not quite dead yet

Posted on February 6, 2014 by grim

From HousingWire: Find out who wants to force HARP 3.0 A homeowner advocacy group wants to make HARP 3.0 happen, and they’ve launched a petition to do just that. The group, makeharp3happen.com, launched a new “We the People” Whitehouse.gov petition … Continue reading →

Posted in Housing Recovery, Mortgages, Politics | 55 Comments

‘fellergate

Posted on January 21, 2014 by grim

From CNN: Hot piece of land in Hoboken at center of Christie-Zimmer dispute Most issues in Hoboken, New Jersey, ultimately boil down to real estate. So it’s no surprise to the residents of the small city that the dustup between … Continue reading →

Posted in New Development, New Jersey Real Estate, Politics | 108 Comments

NJ’s inability to foreclose costs everyone

Posted on December 12, 2013 by grim

From HousingWire: Four states face sticker shock from g-fees, adverse market fees Four states failed to make the exclusive list of 46 states that no longer have to provide the upfront 25-basis point adverse market fee: New York, New Jersey, … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 114 Comments

Help Borrowers? Does Not Compute.

Posted on December 5, 2013 by grim

From the NYT: Banks Fail to Comply With Parts of Mortgage Settlement, Report Says Three of the nation’s largest mortgage lenders are still failing to comply with key requirements of a national settlement over mortgage abuses, according to a new … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 82 Comments

Bailout unlikely for flood insurance program

Posted on November 30, 2013 by grim

From the Insurance Journal: Prospects Dim for Bills to Delay Flood Insurance Rate Hikes Efforts to delay implementation of changes in the federal flood insurance program have run into roadblocks on both sides of Capitol Hill. The leaders of the … Continue reading →

Posted in Economics, Politics, South Jersey Real Estate | 10 Comments

Anyone surprised?

Posted on August 29, 2013 by grim

LISTEN UP! Clear your calendars now, I don’t care what you committed to. Today – 6:30 PM — Montecristo Lounge at J&R Cigars, 301 Route 10 East, Whippany, NJ 07981 No excuses. ———————————— From the Washington Post: Regulators relax proposed … Continue reading →

Posted in Foreclosures, Politics, Risky Lending | 48 Comments

Are we sure eliminating F&F is the best approach to reforming mortgage finance?

Posted on August 6, 2013 by grim

From Reuters: Obama to back mortgage finance reform to speed housing recovery President Barack Obama will propose overhauling the U.S. mortgage finance system in a speech on Tuesday, weighing in on a tangled and polarizing problem that was central to … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, Politics, Risky Lending | 204 Comments

Richmond, CA moves forward with nuclear option loan mods

Posted on August 2, 2013 by grim

From CNN/Money: California city’s drastic foreclosure remedy: Seizure The California city of Richmond said Tuesday that it’s ready to take an extraordinary step in its bid to stop foreclosures — threatening to wrest mortgages from the investors who now control … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 98 Comments

Republicans hate homeowners

Posted on July 12, 2013 by grim

From the WSJ: House Republicans Plan to Wind Down Fannie, Freddie Congressional Republicans said Thursday that they would introduce legislation to wind down Fannie Mae and Freddie Mac over five years and cede the companies’ roles to the private mortgage … Continue reading →

Posted in Economics, Housing Recovery, Politics | 57 Comments

Governor keeps state out of the real estate business

Posted on July 2, 2013 by grim

From the Courier Times: Christie conditionally vetoes bill to create state program to buy foreclosed properties A controversial housing bill intended to help reduce New Jersey’s glut of foreclosed homes was vetoed by Gov. Chris Christie for a third time. … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics, Risky Lending | 40 Comments